Roku Inc.'s shares reached a 52-week high of $159.70 on Monday, extending a 46% year-to-date gain as investors priced in the pending $22 billion acquisition by Fox Corporation.
The streaming platform's market capitalization stood at $23.7 billion, with the stock up 66.98% over the past 12 months. Year-to-date performance accelerated to 46%, while the six-month surge reached 71%. Second-quarter 2026 revenue totaled $1.355 billion, a 21.9% increase from the prior year, exceeding Seaport Global Securities' estimate by 3.7% and Roku's guidance by approximately 5%. Advertising and subscription revenues both rose 25% year-over-year.
Fox Corporation's $160-per-share all-cash-and-equity offer, announced in April, implies an enterprise value of roughly $22 billion. Analysts remain divided on valuation, with InvestingPro flagging Roku as overvalued relative to its Fair Value estimate. JPMorgan initiated coverage with a Neutral rating and a $160 price target, matching Fox's offer price.
Coverage adjustments followed the acquisition announcement. Seaport Global Securities downgraded Roku to Neutral from Buy, citing the Fox deal as a key factor. Wedbush similarly downgraded the stock to Neutral from Outperform, removed it from its Best Ideas List, and highlighted acquisition risks. Netflix was previously reported to have pursued Roku but lost out to Fox's higher bid.
